State Street Co. (NYSE:STT) Receives Average Rating of “Hold” from Analysts

Shares of State Street Co. (NYSE:STT) have earned an average rating of “Hold” from the thirteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $94.68.

STT has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $105.00 to $120.00 in a research note on Tuesday. Evercore ISI increased their price objective on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group boosted their target price on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company increased their price target on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research report on Monday.

State Street Price Performance

Shares of NYSE STT opened at $98.60 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $28.90 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 1.21 and a beta of 1.44. The stock’s 50-day moving average is $93.17 and its two-hundred day moving average is $84.27. State Street has a 1-year low of $70.20 and a 1-year high of $99.75.

State Street (NYSE:STT) last issued its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter last year, the company earned $1.93 earnings per share. The firm’s revenue was up 21.1% compared to the same quarter last year. Analysts forecast that State Street will post 8.42 EPS for the current fiscal year.

Insider Transactions at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the completion of the sale, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This trade represents a 20.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,460 shares of company stock worth $2,499,860. Company insiders own 0.31% of the company’s stock.

Institutional Trading of State Street

Hedge funds and other institutional investors have recently made changes to their positions in the company. Inspire Trust Co. N.A. boosted its holdings in State Street by 5.9% in the 3rd quarter. Inspire Trust Co. N.A. now owns 35,776 shares of the asset manager’s stock valued at $3,165,000 after purchasing an additional 2,000 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of State Street by 13.8% in the 3rd quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock valued at $306,116,000 after buying an additional 408,792 shares during the period. Peapack Gladstone Financial Corp boosted its stake in shares of State Street by 2.0% in the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock valued at $467,000 after buying an additional 103 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of State Street by 10.3% in the third quarter. Synovus Financial Corp now owns 13,321 shares of the asset manager’s stock valued at $1,179,000 after buying an additional 1,247 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in State Street during the third quarter worth $1,125,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

About State Street

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.